Philosophy

EDUCATED UNEMPLOYMENT AND REMEDIES

nishanayeem
3 years ago
1. Introduction

A college degree has long been viewed as the ticket to a good job and social mobility, but many recent college graduates are finding that their investments in education are not paying off. It is true that young people with a bachelor’s degree are more likely to find a job than their less-educated peers, but recent graduates today suffer from high unemployment rates, declining wages, lower-quality jobs, and few opportunities for advancement.

Unemployment is a situation of not getting the work and wages with eligible conditions. People are getting education but not getting the jobs is educated unemployment. Unemployment is the most dangerous problem of each and every developing countries now a days. The root causes of the educated unemployment is to be analysed in detail, but we can say a major factor being ‘The government’s policies to downsize employees’. In this article we will see what the main causes of educated unemployment are and what the remedies are.

2. Main Causes Of Educated Unemployment

2.1. Economic Condition

Economic conditions are the main factor in unemployment. Once a company fails to pay its employees then there is no choice for the employees, they have to leave job. With no reason to continue paying them, they lose their jobs as the job simply disappears. Due to weak economic conditions company become unable to pay its employees. This was the status at times of the great Economic recession in developed countries too. India in spite being a developing country with its GDP growth have got a respectful economic stability status at the time of recession. But in most of the developing countries the economic condition plays a significant role in employment. Educated youth need employability and wage package that meets the skill they possess, but due to weak economic conditions there is no such opportunities or packages. Here the Government policies have great effect, it is to be polished in a way to utilise the full manpower the country has.

Employers are struggling hard to attract them with huge pay-packages that is increasing their production cost significantly. The employers are losing their competitive edge in global markets. Global slowdown only adds to the crisis. Corporations are now facing dual problem.

2.2. Lack of Skill

India economy mainly based on Agriculture, but at recent times there is significant boom in the IT and industrial growth. There are large number of employment opportunities in IT and industrial sectors. Despite large numbers of educated young, there is shortage of skilled manpower. There are unemployed youths and the companies are facing shortage of manpower.

Why these educated youths not absorbed by the new job sectors, as per the surveys and studies, they are mainly lacking three types of skills required to be placed in these jobs.

Communication skill
Analytical skill and problem solving
Domain
60% candidates are screened due to lack of communication skills, 25% percent are screened for analytical skills and 5% percent for their lack of knowledge in their respective domain. Hence 90% of educated youth force are lacking in one of these three main skills required for job and employment. Only 10% of educated youth of India is employable.

The problem lies in the education system. Indian education system has a mismatch with the requirements of the industries. Institutes teach whatever they want. They do not teach what industries require. Industries do not require what institutes teach. The syllabus committees have not been interfacing with the industries. Several big industries have to set-up their own in house training program to fight with the problem.

Most of the newly employed youths are compulsorily undergone employers own training program. This enhances cost of employers enormously. It also wastes time.

2.3. Technology Growth

The growth of new technologies are also be considered for unemployment to certain extend. Today there are machines that can do 10 days of 100 employees work in 1 day with 1 operator, a computer can do documentation works which included 100s of persons work. In some areas technology inclusion is a must for the growth of the economy and at the same time it reduces chances of job opportunities. The technology growth points to job opportunities to certain sector of specially educated people but leaves behind a mass.

2.4. Population and migration

Uncontrolled population growth and migration of foreign job seekers could also be counted as a cause of unemployment. Overpopulation is defined as a condition where a country’s human population exceeds the carrying capacity of its environment, as the population increases number job seekers increases but the available jobs not proportionally increased, resulting in unemployment. Unemployment is directly proportional to the population.

Migration is also a big concern in unemployment. When dealing with migration both in and out of the country to be noted. Migration of qualified skilled professionals from the country seeking better jobs outside, migration of people from neighbouring countries seeking jobs are also boosts the concerns in unemployment.

2.5. Some Other Reasons behind Educated Unemployment

b) Recessions
Inflation
Disability to do the job
Nepotism
Demand of highly skilled labour.
Attitude towards employers
Undulations in the business cycles
Unsatisfied incomes or salaries of the employees
Young people are not ready to take jobs which are considered to be socially degrading or lowly